Microsoft's Sales Chief to Take Sabbatical With Layoffs Looming
Chief Commercial Officer Judson Althoff will step away for eight weeks, a company spokesperson said. Althoff 'will be back with his team in September,' the spokesperson said. The sabbatical was timed to the close of Microsoft's fiscal year, which ends Monday.
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24 minutes ago
- Yahoo
Starbucks upgraded, Shopify downgraded: Wall Street's top analyst calls
The most talked about and market moving research calls around Wall Street are now in one place. Here are today's research calls that investors need to know, as compiled by The 5 Upgrades: Baird upgraded Starbucks (SBUX) to Outperform from Neutral with a price target of $115, up from $100. The firm has high conviction that the turnaround strategies under new leadership will transform Starbucks into a better company. Loop Capital upgraded Five Below (FIVE) to Buy from Hold with a price target of $165, up from $130. The firm believes the market is underestimating the company's near-term earnings power following its recent merchandising and pricing changes under the new CEO. Piper Sandler upgraded Chipotle (CMG) to Overweight from Neutral with a price target of $50, down from $53. The firm cites an improved risk/reward for the upgrade as it now sees over 20% in a "base case" that assumes Chipotle posting comp growth of 3% over the next two years. Piper Sandler upgraded Palo Alto Networks (PANW) to Overweight from Neutral with a price target of $225, up from $200. The says Palo Alto's early "platformization" success should reaccelerate bookings growth and prove durable as Xsiam traction grows. Morgan Stanley upgraded (MNDY) to Overweight from Equal Weight with a price target of $260, down from $330. The firm views the stock's current valuation as "too cheap" given mid-to-high 20%'s free cash flow margins. Top 5 Downgrades: Phillip Securities downgraded Shopify (SHOP) to Neutral from Accumulate with a price target of $150, up from $130. The firm cites the recent rally in shares for the downgrade. Citi downgraded Cogent (CCOI) to Neutral from Buy with a price target of $33, down from $67. The firm sees slower progress and risk to the company's dividend post the Q2 report. Truist downgraded Lantheus (LNTH) to Hold from Buy with a price target of $63, down from $111. While the firm "appreciates" the stock's selloff reflects "a lot of Pylarify uncertainty already," it thinks the multiple is going to be linked to Pylarify trends and sees year-over-year and quarter-over-quarter deceleration as now on tap for "at least" another two quarters. DA Davidson downgraded Installed Building Products (IBP) to Neutral from Buy with a price target of $252, up from $225. IBP delivered "the most impressive 2Q25 results across our building products/distribution coverage universe," but the 20% move higher in the stock since the report leaves what the firm sees as "a full absolute and relative valuation." Argus downgraded Union Pacific (UNP) to Hold from Buy with no price target. The firm cites the company's recent announcement of a merger with Norfolk Southern (NSC) that it believes will negatively impact profitability if approved. Top 5 Initiations: Piper Sandler analyst David Amsellem assumed coverage of AbbVie (ABBV) with an Overweight rating and $231 price target. The company is in an "enviable position" as it does not face a major loss of exclusivity through the end of the decade, the firm tells investors in a research note. BMO Capital initiated coverage of Assurant (AIZ) with an Outperform rating and $238 price target. The firm views Assurant as a "value stock" with secular tailwinds and potential for earnings estimate revisions. Stephens initiated coverage of SailPoint (SAIL) with an Overweight rating and $26 price target while also designating shares as the firm's "Best Idea." Stephens cites a continued positive outlook for the identity security market, its view that SailPoint is well-positioned as "an identity security market leader and strategic platform provider and the company's margin expansion potential. Goldman Sachs initiated coverage of pure-play, U.S.-based uranium mining company Uranium Energy (UEC) with a Buy rating and $13 price target. Uranium Energy has the capability to ramp to several million pounds of production capacity over the medium term, has the largest licensed processing capacity in the U.S., has no debt, and remains levered to potentially higher pricing within the nuclear fuel supply chain, the firm tells investors. Stifel initiated coverage of IsoEnergy (ISOU) with a Buy rating and C$22 price target. The firm sees IsoEnergy as a "differentiated" uranium company. The company provides investors a "rare combination" of near-term U.S. production and high-grade Canadian exploration upside, the firm tells investors in a research note.
Yahoo
24 minutes ago
- Yahoo
Tesla, industry price cuts boost EV sales in July ahead of tax credit expiration
EV sales soared in the US in July, with Tesla (TSLA) helping to boost those numbers with the biggest price cuts. The jump in EV sales comes ahead of the federal EV tax credit expiration, with EV demand expected to be strong throughout the third quarter. Cox Automotive's Kelly Blue Book estimates EV sales were robust in July, initially estimated to be the second-best month ever, with sales over 130,000 — a 20% jump from a year ago. KBB's official tally for July will come next week. Switch Auto Insurance and Save Today! Affordable Auto Insurance, Customized for You The Insurance Savings You Expect Great Rates and Award-Winning Service But it wasn't just the tax credit expiration that drove buyers to EVs. It was price cuts. KBB reports the average transaction price (ATP) for new EVs was $55,689, down 2.2% from June and 4.2% from a year ago. Tesla, the top EV seller in the US, led the price cuts. Tesla's July ATP was $52,949, down 2.4% compared to June and sliding 9.1% compared to a year ago. KBB said Tesla incentives in July were higher as well, leading to increased sales compared to June but down year over year. KBB said a higher mix of cheaper base Model 3 sedans and Model Y SUVs pushed overall ATPs lower for Tesla. Read more: How to avoid the sticker shock on Tesla car insurance For the industry as a whole, the average incentive package for EVs hit 17.5% of ATP in July, which KBB said was a record in the modern era of EV sales, and up more than 40% compared to last year. "The urgency created by the administration's decision to sunset government-backed, IRA-era EV incentives was expected to create serious demand for EVs in the short term," Cox Automotive senior analyst Stephanie Valdez Streaty said in a statement. "At this pace, Q3 will be the best ever and then some, as buyers jump in before the big incentives dry up." As for Tesla, the company's website shows Model Y wait times in the US stretching to four to six weeks, up from one to three weeks earlier this summer. Tesla also raised lease prices for the Model Y by 14%, suggesting it has some pricing power as demand for the vehicle rises. The next leg up for Tesla's demand story may come when the company unveils its so-called cheaper EV, which the company said will come after the federal tax credit expires. Tesla fans were probably not happy to hear that CEO Elon Musk confirmed it would basically be a stripped-down version of the Model Y, not the long-anticipated "Model Q" hatchback that analysts at Deutsche Bank predicted. Musk himself warned that, following the end of the tax credit, the company would face "a few rough quarters." Pras Subramanian is the lead auto reporter for Yahoo Finance. You can follow him on X and on Instagram. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24 minutes ago
- Yahoo
Trump Trade: Nvidia, AMD said to pay U.S. cut from China chip sales
Catch up on the top industries and stocks that were impacted, or were predicted to be impacted, by the comments, actions and policies of President Donald Trump with this daily recap compiled by The Fly: Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. CHIP SALES REVENUE: Nvidia (NVDA) and AMD (AMD) have agreed to pay 15% of their revenue from chip sales to China to the U.S. government, Hadriana Lowenkron and Michael Sasso of Bloomberg report, citing a person familiar with the matter. This will be part of a deal with the Trump admin to secure their licenses to export. The revenues will be related to Nvidia's sales of H20 chips and AMD's sales of MI308 in China, the person added. APPARENT IPO: Shares of Fannie Mae (FNMA) and Freddie Mac (FMCC) moved higher after President Trump over the weekend posted a picture on social media of an alleged initial public offering on the New York Stock Exchange of a company called 'The Great American Mortgage Corporation.' The post followed reporting last week that the Trump administration is weighing an IPO of the government sponsored entries. Keefe Bruyette keeps Underperform ratings on both Fannie Mae and Freddie Mac after the Wall Street Journal reported on Friday that the Trump administration is planning to do an initial public offering of both later this year. The firm finds 'very unlikely' that an IPO can be done by the end of 2025. There are numerous factors to address before an IPO, including the current minimum capital, which is roughly 4.25% of assets for both companies and results in estimated run-rate returns on equity of 7%-9%, the analyst tells investors in a research note. Keefe believes investors won't be willing to buy shares of companies with such low ROEs. In order for Fannie and Freddie to generate low-teens ROEs, the capital rules have to be changed to remove the buffers and take capital levels back closer to the statutory minimum of 2.5%, contends the firm. MEETING WITH TRUMP: A week after President Trump called for his ouster, Intel (INTC) CEO Lip-Bu Tan is set to visit the White House on Monday, Lauren Thomas of Wall Street Journal reports, citing people familiar with the matter. Tan and Trump are expected to have a wide-ranging conversation and explain his personal and professional background, sources told the Journal. The CEO may also propose ways that the government and Intel could work together, the people added. Tan seeks rump's approval by showing his commitment to the country, they said. MARIJUANA CLASSIFICATION: President Donald Trump is debating on reclassifying marijuana as a less dangerous drug, Josh Dawsey of The Wall Street Journal reports, citing people familiar with the matter. Earlier this month, Trump said he was interested in change, the sources added. Such a shift would make it easier to buy and sell pot. Publicly traded companies in the space include Aurora Cannabis (ACB), CV Sciences (CVSI), Canopy Growth (CGC), Cronos Group (CRON), Goodness Growth (GDNSF), Green Thumb Industries (GTBIF), IGC Pharma (IGC), Tilray (TLRY), Trees Corporation (CANN) and Trulieve Cannabis (TCNNF). IRS COMMISSIONER: President Trump is removing Billy Long, a former Republican congressman, from his job leading the Internal Revenue Service two months after he was confirmed as commissioner, four people familiar with the matter told The New York Times' Andrew Duehren, Alan Rappeport and Maggie Haberman. Treasury Secretary Scott Bessent will serve as acting IRS commissioner until a permanent replacement is in place, while Long is expected to be nominated to an ambassadorship, the report added, citing sources. GOLD BARS: A White House official said the Trump administration plans to issue a new policy clarifying that imports of gold bars should not face tariffs after the government surprised traders by ruling that they would, Jennifer Dlouhy of Bloomberg reports. The White House intends to post an executive order shortly to clarify what an official called misinformation about the tariffing of gold and other specialty products, according to Bloomberg. Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See today's best-performing stocks on TipRanks >> Read More on NVDA: Disclaimer & DisclosureReport an Issue Super Micro Computer Stock (SMCI) Could See Limited Upside Amid Ongoing Challenges Morning Movers: MeridianLink jumps after pact to be acquired by Centerbridge Video: Nvidia, AMD said to pay U.S. 15% of revenue from China chip sales Notable open interest changes for August 11th Wells Fargo Lifts Nvidia Price Target to $220 on China AI Chip Deal
